Chicago Capital LLC Has $7.63 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

Chicago Capital LLC lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,092 shares of the financial services provider’s stock after selling 940 shares during the quarter. Chicago Capital LLC’s holdings in Iron Mountain were worth $7,626,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its position in Iron Mountain by 2.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock worth $25,787,000 after buying an additional 7,486 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Iron Mountain by 22.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after buying an additional 110,551 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Iron Mountain by 6.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after buying an additional 59,381 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Iron Mountain by 19.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock worth $6,794,000 after buying an additional 12,540 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Iron Mountain by 6.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 462,652 shares of the financial services provider’s stock worth $30,637,000 after buying an additional 27,551 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Activity

In related news, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the completion of the transaction, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Iron Mountain news, COO John Tomovcsik sold 1,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now owns 14,000 shares in the company, valued at $1,540,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $27,078,583.50. The disclosure for this sale can be found here. Insiders have sold 82,805 shares of company stock valued at $7,510,750 over the last ninety days. 2.10% of the stock is currently owned by insiders.

Iron Mountain Trading Up 0.4 %

NYSE IRM traded up $0.40 during trading on Friday, hitting $109.48. The stock had a trading volume of 1,471,068 shares, compared to its average volume of 1,643,019. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $32.09 billion, a price-to-earnings ratio of 165.88, a P/E/G ratio of 6.78 and a beta of 1.00. Iron Mountain Incorporated has a one year low of $56.51 and a one year high of $114.93. The stock has a 50 day simple moving average of $103.77 and a 200 day simple moving average of $88.34.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.59). The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 earnings per share. Sell-side analysts predict that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.61%. Iron Mountain’s payout ratio is 433.33%.

Analysts Set New Price Targets

IRM has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Stifel Nicolaus boosted their target price on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price target on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company lifted their price target on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $99.83.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.